Russell Investments Group Ltd. Decreases Holdings in Amicus Therapeutics, Inc. (FOLD)
Russell Investments Group Ltd. cut its holdings in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,483 shares of the biopharmaceutical company’s stock after selling 7,855 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Amicus Therapeutics worth $1,142,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of FOLD. Wellington Management Group LLP raised its stake in shares of Amicus Therapeutics by 358.4% during the first quarter. Wellington Management Group LLP now owns 5,341,132 shares of the biopharmaceutical company’s stock worth $38,083,000 after acquiring an additional 4,175,995 shares in the last quarter. Morgan Stanley raised its stake in shares of Amicus Therapeutics by 99.4% during the first quarter. Morgan Stanley now owns 6,128,481 shares of the biopharmaceutical company’s stock worth $43,696,000 after acquiring an additional 3,055,039 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Amicus Therapeutics during the first quarter worth approximately $21,394,000. Palo Alto Investors LLC raised its stake in shares of Amicus Therapeutics by 23.0% during the first quarter. Palo Alto Investors LLC now owns 7,882,988 shares of the biopharmaceutical company’s stock worth $56,206,000 after acquiring an additional 1,472,958 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Amicus Therapeutics by 21.7% during the first quarter. Victory Capital Management Inc. now owns 4,958,719 shares of the biopharmaceutical company’s stock worth $35,356,000 after acquiring an additional 883,066 shares in the last quarter.
In other Amicus Therapeutics news, major shareholder Life Sciences Maste Perceptive bought 1,500,000 shares of Amicus Therapeutics stock in a transaction on Thursday, July 13th. The shares were acquired at an average price of $12.25 per share, for a total transaction of $18,375,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay Barth sold 30,000 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $10.00, for a total value of $300,000.00. Following the completion of the sale, the insider now owns 64,184 shares in the company, valued at approximately $641,840. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) traded down 3.66% on Tuesday, hitting $13.17. 1,419,287 shares of the stock traded hands. The firm’s market cap is $2.17 billion. Amicus Therapeutics, Inc. has a 52-week low of $4.41 and a 52-week high of $14.36. The firm has a 50 day moving average price of $13.20 and a 200 day moving average price of $9.58.
Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.03. Amicus Therapeutics had a negative return on equity of 61.25% and a negative net margin of 1,279.88%. The business had revenue of $7.16 million for the quarter, compared to analyst estimates of $6.96 million. During the same quarter last year, the firm posted ($0.40) earnings per share. On average, equities analysts forecast that Amicus Therapeutics, Inc. will post ($1.38) EPS for the current year.
Several research firms have commented on FOLD. J P Morgan Chase & Co reissued an “overweight” rating and set a $15.00 price target (up from $13.00) on shares of Amicus Therapeutics in a research note on Wednesday, August 9th. Cowen and Company reissued a “buy” rating and set a $16.00 price target on shares of Amicus Therapeutics in a research note on Monday, August 14th. Chardan Capital lifted their price target on shares of Amicus Therapeutics from $12.50 to $17.50 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research downgraded shares of Amicus Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, ValuEngine raised shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.58.
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About Amicus Therapeutics
Amicus Therapeutics, Inc is a biotechnology company. The Company is engaged in the discovery, development and commercialization of a set of treatments for patients living with devastating rare and orphan diseases. Its lead product, migalastat HCl is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease.
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